- Supply constraints keep prices unchanged
- NMDC shifts to tax-exclusive price structure
Domestic Fe 62% iron ore concentrate prices in Jabalpur remained steady at INR 5,000/t ($56/t) ex-works on 14 January against 10 January, as per BigMint’s latest assessment. Likewise, Fe 63% concentrate prices were assessed flat at INR 5,200-5,250/t ($57-58/t) ex-works. A sustained shortage of high-grade material continued to provide strong underlying support to prices, even as overall buying activity remained measured. Only a limited number of deals were heard for higher-grade material during the week. NMDC’s price revision also had limited impact on market dynamics.
Market sentiment stayed firm w-o-w, buoyed by rising finished steel prices and steadily improving downstream demand, both of which reinforced confidence in raw material markets. Sellers largely maintained firm offers, focusing on clearing previously booked orders. Fresh price announcements are expected only after the completion of these commitments.
A Jabalpur-based seller told BigMint, “We are fully booked for the next month. New prices or fresh offers will be considered only after completing current orders. The market outlook remains positive, and prices are likely to move higher.”
Another local seller added that NMDC’s recent price revision had little impact on the concentrate market, noting, “There has not been any major change in NMDC’s fines prices, so its effect is negligible.”
Echoing the bullish tone, Jabalpur-based seller said, “Demand is healthy, though selective. Limited availability is keeping prices elevated, and we expect further upside in the near term.”
On the buying side, a Jabalpur-based consumer remarked, “Our consumption levels are currently low, so we are not procuring concentrate on a continuous basis.”
Meanwhile, India’s largest merchant iron ore miner, NMDC, announced its latest list prices for calibrated lump ore (CLO) and fines on 9 January 2026, sources informed BigMint. The miner fixed DR-grade CLO (10–40 mm, Fe 67%) at INR 5,150/t ($57/t) and iron ore fines (-10 mm, Fe 64%) at INR 3,900/t ($43/t), on an FOR basis from its Bacheli complex. These prices exclude royalty, DMF, and NMEDT. Notably, NMDC has transitioned from a tax-inclusive pricing mechanism to a structure that excludes these statutory levies, marking a significant shift in its pricing approach.
Rationale
- Zero (0) trade was recorded in this publishing window and, thus, this category was not taken into consideration, receiving a 0% weightage.
- Nine (9) offers and indicative prices were heard, and seven (7) were taken into consideration as T2 trades, receiving 100% weightage.
Odisha iron ore prices remain steady
BigMint’s Odisha iron ore fines (Fe 62%) index remained firm w-o-w at INR 5,800/t ($64/t) ex-mines on 10 January, supporting the stability in iron ore concentrate prices. The price stability in the fines segment reflected balanced demand-supply conditions and steady market confidence. Although lump prices saw a marginal adjustment in line with downstream steel movements, overall trade continued smoothly, with buyers sourcing material as required. Market participants highlighted disciplined buying behaviour, which helped maintain price stability and supported a healthy, orderly market environment.
Outlook
Iron ore concentrate prices in Jabalpur are expected to remain firm next week, supported by the limited availability of high-grade material and improving downstream steel demand. With sellers largely booked and holding offers, fresh prices may see an upward bias once current orders are cleared. Buying is likely to stay selective, but underlying market sentiment remains positive.
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